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Faraday Future founder Yueting “YT” Jia was appointed co-CEO on April 24, 2025, alongside Matthias Aydt, after being sidelined in 2022 following an internal probe, according to TechCrunch. That co-CEO arrangement is no longer current: Aydt’s resignation took effect May 5, 2026, and a company filing says Jia then became sole CEO.
What happened in the 2025 appointment?
Faraday Future’s board appointed Jia co-CEO on April 24, 2025, sharing the role with Matthias Aydt, who was then the company’s Global CEO. The company’s SEC-filed announcement said Jia would take on direct reporting lines for finance, legal and supply chain, describing the move as a fundamental change to top management and decision-making. Faraday Future’s April 24, 2025 Form 8-K
Aydt welcomed Jia’s return in the company announcement, calling it a return to “a crucial leadership role.” The statement was company-provided event language, not an independent assessment of the appointment.
Why had Jia been sidelined?
TechCrunch reported that Jia, who founded Faraday Future in 2014, was sidelined in 2022 after an internal probe into allegations of fraud. Faraday Future later said the investigation began in October 2021 and was initiated by an independent director from the SPAC merger counterparty. Those are distinct dates: the company places the probe’s start in 2021, while the reported sidelining occurred in 2022. TechCrunch’s April 24, 2025 report Faraday Future’s March 2026 SEC-filed announcement
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The company said the later SEC investigation concerned matters involving its 2021 PIPE and SPAC-related transactions, and that it had received Wells Notices. The company described those notices as not being formal charges. The available filings do not provide the special committee’s full findings, so the allegations and the internal probe should not be treated as a public finding that Jia committed fraud.
What did the SEC investigation conclude?
In a letter dated March 18, 2026, the SEC Division of Enforcement said that, based on information available to it as of that date, it did not intend to recommend an enforcement action against Faraday Future. The company’s Form 8-K says Jia and Jerry Wang received similar letters in their individual capacities. Faraday Future’s March 2026 Form 8-K
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- 【CAR KEYLESS ENTRY PROTECTOR】:The perfect combination kit for home and travel brings you double protection. Prevent criminals from copying the remote signal of the car keys and enter your vehicle.
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The notice is not an exoneration. The SEC filing expressly says it “must in no way be construed as indicating that the party has been exonerated or that no action may ultimately result from the staff’s investigation.” The conclusion is therefore limited to the Enforcement Division’s stated intention based on the information it had on March 18, 2026; it is not a finding that the underlying conduct did not occur.
Is Jia still co-CEO?
No. A later Form 8-K says Aydt’s resignation as co-CEO became effective May 5, 2026, after which the board appointed Jia sole CEO. Jiawei Wang, previously Global President, became Global Executive Chairman and assumed certain finance, legal, governance and risk-management oversight. Faraday Future’s May 2026 Form 8-K
Rank #3
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Company and vehicle context
Faraday Future describes the FF 91 as its flagship vehicle and says deliveries began in 2023. It has also described FX as a second brand aimed at the mainstream market. These are company descriptions, not independently verified sales or production assessments.
At the April 2025 appointment event, the company targeted having its first FX vehicle off the line by the end of 2025 and aimed to manufacture and sell tens of thousands of FX units within two years of production, subject to necessary rights and funding. Those were forward-looking targets; the cited materials do not establish whether they were achieved. TechCrunch reported in April 2025 that Faraday Future had spent more than $3 billion developing the FF 91 and had sold around a dozen vehicles. Those are the outlet’s figures from that report, not a current sales total or an independently verified statistic. TechCrunch’s April 24, 2025 report
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Product prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on Amazon at the time of purchase will apply.
